Page 38 - Insurance Times December 2023

streamlines the user experience, making it easier and more models allow them to respond promptly to market changes
efficient to obtain the necessary insurance coverage. and emerging trends. This flexibility enables them to
introduce novel insurance products swiftly, addressing
Future Trends and Predictions: The future of embedded evolving consumer needs and preferences. Such
insurance appears to be dynamic and innovative. responsiveness not only solidifies their position in the market
Anticipated trends include deeper integration into Internet but also positions them as innovators, attracting tech-savvy
of Things (IoT) devices, which could lead to insurance consumers looking for cutting-edge solutions.
solutions becoming more personalized and responsive to
Embedded insurance represents a paradigm shift in the
real-time data. Moreover, there's an expectation that block
insurance industry, heralding a new era of innovation and
chain technology might be leveraged for secure transactions
and data management within the embedded insurance customer-centricity. By seamlessly integrating insurance
into various consumer touchpoints, this approach is not only
landscape. These predictions indicate a continued evolution
revolutionizing product development and pricing models but
of embedded insurance, with a focus on aligning more
also revolutionizing the way risks are assessed and mitigated
closely with evolving customer preferences and needs. The
trajectory suggests a path where insurance solutions become in real time. Forward-thinking insurers embracing this trend
are poised to gain a significant competitive advantage,
increasingly tailored, tech-driven, and responsive to the
capitalizing on enhanced customer experiences and agile
changing demands of the market.
business strategies. As the industry continues to evolve,
embedded insurance stands as a testament to the power
Driving Innovation and Customer-Centric
of innovation in transforming traditional practices and
Transformation enhancing the relationship between insurers and
The agility and adaptability of insurers embracing embedded policyholders.

Patient with multiple sclerosis sues insurance at HC for denial

A professor at a college who has multiple sclerosis (MS) filed a lawsuit in Bombay High Court after her family medical
coverage was canceled by a private insurance firm and she was rejected payment for an unrelated operation. After
learning that she had MS, several insurers refused to provide her with health coverage.
"Being refused health cover by insurance companies on account of MS, a sense of discrimination and of being an
outcast is felt by petitioner at the hands and the conduct of insurance companies," according to the appeal submitted
by Manita Singh of Bandra.
Manita was given an MS diagnosis in 2015. The chronic illness (see box) affects the brain, spinal cord, optic nerves,
and central nervous system and can cause a variety of symptoms. On July 21, 2021, her spouse, advocate Rajesh,
accepted the cashless coverage offered by Care (formerly Religare) Health Insurance Ltd. Manita underwent surgery
on January 14, 2022, to remove fibroids. The physician attested to the procedure's lack of connection to MS. Care
denied a claim for Rs 1.10 lakh on February 16, 2022, stating that it was not paid for "non-disclosure of MS since
2015". The family cover was removed from circulation. Rajesh brought a complaint to the District Consumer Disputes
Redressal Commission (a suburb of Mumbai) on July 27, 2022.
Manita approached Care in July 2023 to renew her health insurance, but she was verbally rejected. The response
from other insurers was similar. Manita filed a motion with HC on July 27 to enforce her Article 21 rights as a funda-
mental right (Right to Life).
According to her petition, MS is covered under "critical illness" and was covered by the Mediclaim policy, according to
Care's website and ads. Care had access to Manita's medical records during the transfer from New India Assurance.
She claimed that in its master circular to insurers on critical illnesses like MS, Care had violated the July 22, 2020,
standards set forth by the Insurance Regulatory and Development Authority (IRDA).
Manita's petition also cited research from the Multiple Sclerosis Society of India demonstrating that it "is a rampant
practice" to deny insurance coverage to MS patients. "The petitioner submits that it would be unthinkable for her
family to spend huge amount at each time she has attack of multiple sclerosis on account of prohibitive costs and if
not covered by health insurance plan, her family would be financially drained out," it states.

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